5 Meme Stocks that More than Doubled in 2021

1. Revolve Group, Inc. (NYSE:RVLV)

Number of Hedge Fund Holders: 25 

Year-To-Date Gain: 154%   

Revolve Group, Inc. (NYSE:RVLV) is an online fashion retailer based in California. The company recently beat market estimates on earnings per share and revenue for the third quarter by $0.07 and $29 million respectively. 

Guggenheim analyst Seth Sigman recently assumed coverage of Revolve Group, Inc. (NYSE: RVLV) stock with a Buy rating and a price target of $100, noting that the firm offered a compelling growth story over the next few months. 

At the end of the third quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $229 million in Revolve Group, Inc. (NYSE: RVLV), up from 22 in the preceding quarter worth $211 million. 

In its Q1 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Revolve Group, Inc. (NYSE:RVLV) was one of them. Here is what the fund said:

“Revolve is a leading, next-generation online retailer of apparel, accessories, and beauty for fashion-forward people. During the pandemic, Revolve pivoted its offerings and strategy to adapt to the new normal. The company expanded into adjacent categories like beauty, activewear, and intimates, enabling it to serve its customers’ more immediate needs, increase wallet share, and touch more aspects of their lives. This strategy shift was a success. The company delivered record profitability and free cash flow during Q4 2020.

The leadership team intends to use this strong position to prioritize several key strategic investments as the world recovers from COVID-19, including strengthening their Owned Brands portfolio, expanding marketing, and accelerating brand building around the globe. The company reported a record high Net Promoter Score (NPS) for 2020. In geographies where COVID-19 is considered generally under control, the company has seen a return of customer demand for their traditional product categories as well.”

You can also take a peek at Why These 10 Stocks Fell on Monday and 10 Penny Stocks With Long-Term Growth Catalysts.

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